Coupons can also create brand awareness, enhance brand loyalty and help in several other areas of business. Therefore, if you want to make the most out of the coupons you should follow the footsteps of other brands that have been successful with their codes.

You will need to be very specific about your purpose while using the coupons as your business marketing strategy. Purposes may vary from one business to another and even from one company to dealing with the similar product.

• For example, you purpose of releasing the coupons may be to expedite the sale of the slow moving merchandize while another company may use it to coincide with the upcoming holiday or event.
• Few may even offer special coupons to their customers for providing free items on their birthdays.

However, one thing is very common for all these purposes: everything is related to the sale of a product or service.

Apart from the purpose you will have to keep in mind the return you are getting from your promotional campaign. You can do this best in several ways such as:

• By keeping track of your results
• By identifying the coupons that are more successful and popular along with its barcodes
• By remembering the numbers that will give you information regarding whether you distributed the coupon via the Internet, a newspaper, or the radio.

If your coupons are low-tech and do not have a barcode ability, you can ensure that different coupons have different borders in different colors so that you can manually process them more effectively.

You must also remember that the promo coupons are the most inexpensive tool to produce and distribute in comparison to any form of advertising and therefore you must make the best use of it. However, in the first place you will need to make sure that your business is in a position to afford any discounts that you may offer.

Make sure that you factor in the cost of these coupons and at least try to break even to achieve your main purpose of designing the coupons which is to draw in more new customers who will be interested to use your coupons to buy several items.

Hopefully, these will be the customers who will come back for more ensuring repeat business even on days when they will not have any coupons in hand.

Follow the strategies that work

The online coupon seems to be the simple and most straightforward way to upsurge conversions but it can also have a few negative effects on your booming online business. Therefore, look beyond using coupon codes simply to spur the sales at checkout and be savvy to find ways to leverage discounts, to track your customers and to build an affiliate relationship.

Here are a few strategies suggested by some of the most successful young entrepreneurs that will actually make your mattress coupons & promo codes or any other for that matter work in a better way.

• Retargeting and cart abandonment: These are the two most important strategies that all ecommerce startup should follow to face the competitive market. You can use the coupons wisely by retargeting your customers with shopping cart abandonment emails or banners. This will lure them back to your website.
• Use partners: To make sure that you build a sustainable business you must make sure that you provide more than just a discounted product as your only value proposition. For this you will have to distribute your coupons well and use partners with special discount offers. Set a quantity based limit with it or a time based deadline for them to distribute it to their audiences. You can also offer commission on sales to cat as an extra incentive to promote your offers.
• Track and measure the ROI: All coupon codes are an excellent tool to track and measure the ROI on advertising. All you have to do is simply use a different code for every ad outlet such as Google, Bing, or Facebook. This will help you to see the number sales generated through each campaign. You can use a little bit of tech work to track down to the keyword level even for your search ad campaigns. This is a critical aspect for search engine optimization.
   
• Reward loyal fans: You can choose a third party app or offer coupons and discounts to your customers through the social channels. This will make sure that you reach only to your followers, which is a smart move rather than just offering it to anyone and everyone.
• Track revenue sources: Make sure that you use the discount codes to track the sales channels that are producing the highest revenue. This is very useful way to keep a track on your business revenue especially during any special events. This will in turn help you to concentrate on optimizing these particular channels only.
• Encourage action:
• When you use your online discount coupons and promo codes to the first time buyers you will automatically encourage them to act. The main reason behind this is that it will create a scarcity and this component will make the people take action quickly while making their buying decision.
• Learn and customize: Using your coupons to simply raise the conversions will be a big mistake. You must know how to utilize these to know more about your customers' behavior as well. Therefore, make sure that you create unique codes to use them through different channels and create custom codes for partners to exploit conversions based on the real data.

Since every business is done to earn profit, you must focus on the cost factor even when you design your promo codes and discounts. You have to understand the unit economics along with the customer acquisition cost of your business. Always collaborate with affiliates to keep the cost of customer acquisition low.